After much research and deliberation, we at POZESS are planning to transition from our Initial Coin Offering (ICO) to a Security Token Offering (STO). Exact dates and full details will be announced in coming weeks, but the STO will be fully SEC and ESMA compliant and investors who purchase the POZESS security token will be entitled to future dividends of revenue generated by the platform. In the event that POZESS is sold or goes public, a conversion into common equity is possible.
We have also announced a pre-STO equity round where a limited number of early investors can participate on a first come, first served basis. This pre-STO equity round will give investors the opportunity to own direct equity of the company and several other early mover advantages during the security token sale.
Why Transition?
Our decision has come after giving careful considerations to factors affecting the crypto industry. It is a well known fact that the ICO market has been in decline as of late due to regulatory concerns, and wary investors are shying away from ICOs based on past failures and bad actors in the space. The days of “take my money and run” are over and are, for good reason, being replaced by smarter and more secure fundraising strategies — namely, STOs.
The POZESS team has invested a significant amount of time, money, and resources in developing the platform and acquiring early users. Having a positive reputation and credibility is paramount to us to demonstrate our commitment to the future of the project and its longevity. Securitization of tokens protects our valued investors — each investor will be backed by the equity of the company and is entitled to future dividends and revenue sharing. The security token will also protect the company against regulatory scrutiny as it will abide by all applicable regulatory requirements including a stringent KYC/AML process.
Here are some important points about the POZESS transition to an STO:
- The POZESS investor community can purchase tokenized security which means they are purchasing tokens that are backed by the equity of the company and each investor is entitled to earn dividends in the form of revenue sharing.
- In the event that POZESS is sold or goes public, the conversion to common equity is possible.
- The security token offering will follow relevant regulatory requirements.
How Will This Change Impact Our Users?
As we pride ourselves on being fully transparent with our users, we wanted to communicate this news with our community and the reasons behind our decision, as well as how this change impacts user participation.
We want to assure our community that, at its core, POZESS is not changing. The POZESS values are still the same — those being trust, transparency, discovery, and excitement. Our commitment to our user community has not change either. In fact, this shift from an ICO to an STO will help us do our job in a more effective manner in that we will be able to support the community and our merchant partners in the best way possible — providing the best customer service, UX, business tools, and more.
Both crypto and fiat currency will still be accepted on the POZESS platform, and the rewards system will still be in place as PZS tokens will be given for network building activities (liking, sharing, posting, etc).
There is still work ahead of us, but the team is excited about this change and we look forward to the continued growth of the POZESS Network.
If you have any questions or would like to participate in the pre-STO, please email support@pozess.com.
